Decagon Acquires 137,732 Shares of Chart Industries for $27.57 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: Fool
- New Investment Position: Decagon Asset Management initiated a new stake in Chart Industries by acquiring 137,732 shares valued at approximately $27.57 million during Q3, indicating confidence in the company's future growth potential.
- Portfolio Optimization: This acquisition makes Chart Industries a significant holding, accounting for 13.92% of Decagon's 13F reportable assets, reflecting a strategic focus on capital-intensive infrastructure investments.
- Performance Growth Highlight: Chart Industries reported third-quarter orders of $1.68 billion, up roughly 44% year-over-year, pushing the company's backlog to a record $6.05 billion, showcasing strong market demand and business stability.
- Profitability Enhancement: Although reported earnings were impacted by transaction-related costs, adjusted operating income reached $251.5 million with adjusted EBITDA of $277.1 million, approximately 25% of revenue, indicating a significant improvement in core business profitability.
GTLS
$205.96+Infinity%1D
Analyst Views on GTLS
Wall Street analysts forecast GTLS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GTLS is 210.00 USD with a low forecast of 210.00 USD and a high forecast of 210.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
0 Buy
4 Hold
0 Sell
Hold
Current: 205.970
Low
210.00
Averages
210.00
High
210.00
Current: 205.970
Low
210.00
Averages
210.00
High
210.00
About GTLS
Chart Industries, Inc. is engaged in the designing, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling for the Nexus of Clean-clean power, clean water, clean food, and clean industrials, regardless of molecule. The Company's Cryo Tank Solutions segment designs and manufactures and supplies bulk, microbulk and mobile equipment used in the storage, distribution, vaporization, and application of industrial gases and certain hydrocarbons. Its Heat Transfer Systems segment facilitates natural gas, petrochemical processing, petroleum refining, power generation and industrial gas companies in the production or processing of their products. Its Specialty Products segment supplies highly engineered equipment and process technologies used in specialty end-market applications for hydrogen and helium, LNG, biofuels, carbon capture, food and beverage, metals and mining, aerospace, space exploration, lasers, and water treatment, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
